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Consolidated Statements of Shareholders' Equity - USD ($)
$ in Thousands
Total
Total Granite Shareholders’ Equity
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Non-Controlling Interests
Cumulative Effect, Period of Adoption, Adjustment
Cumulative Effect, Period of Adoption, Adjustment
Total Granite Shareholders’ Equity
Cumulative Effect, Period of Adoption, Adjustment
Additional Paid-In Capital
Cumulative Effect, Period of Adoption, Adjustment
Retained Earnings
Cumulative Effect, Period of Adoption, Adjusted Balance
Cumulative Effect, Period of Adoption, Adjusted Balance
Total Granite Shareholders’ Equity
Cumulative Effect, Period of Adoption, Adjusted Balance
Common Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Additional Paid-In Capital
Cumulative Effect, Period of Adoption, Adjusted Balance
Accumulated Other Comprehensive Income (Loss)
Cumulative Effect, Period of Adoption, Adjusted Balance
Retained Earnings
Cumulative Effect, Period of Adoption, Adjusted Balance
Non-Controlling Interests
Balances (in shares) at Dec. 31, 2021     45,840,260                     45,840,260        
Balances at Dec. 31, 2021 $ 995,563 $ 967,682 $ 458 $ 559,752 $ (3,359) $ 410,831 $ 27,881 $ (16,418) $ (16,418) $ (26,961) $ 10,543 $ 979,145 $ 951,264 $ 458 $ 532,791 $ (3,359) $ 421,374 $ 27,881
Net income 78,857 83,302       83,302 (4,445)                      
Other comprehensive income (loss) 4,147 4,147     4,147                          
RSUs vested (in shares)     262,748                              
RSUs vested $ 0   $ 3 (3)                            
Common stock purchased for employee tax withholding for vested RSUs (in shares) (75,303)   (2,376,020) [1]                              
Repurchases of common stock [1] $ (70,901) (70,901) $ (24) (70,877)                            
Dividends on common stock ($0.52 per share) (23,292) (23,292)       (23,292)                        
Transactions with non-controlling interests, net 8,693           8,693                      
Stock-based compensation expense and other (in shares)     16,919                              
Stock-based compensation expense and other 8,496 8,496   8,496                            
Balances (in shares) at Dec. 31, 2022     43,743,907                              
Balances at Dec. 31, 2022 $ 985,145 953,016 $ 437 470,407 788 481,384 32,129                      
Dividends on common stock (dollars per share) $ 0.52                                  
Net income $ 29,587 43,599       43,599 (14,012)                      
Other comprehensive income (loss) 93 93     93                          
RSUs vested (in shares)     288,876                              
RSUs vested $ 0   $ 3 (3)                            
Common stock purchased for employee tax withholding for vested RSUs (in shares) (102,413)   (102,413) [1]                              
Repurchases of common stock [1] $ (4,125) (4,125) $ (1) (4,124)                            
Dividends on common stock ($0.52 per share) (22,838) (22,838)   301   (23,139)                        
Capped call transactions (39,641) (39,641)   (39,641)                            
Redemption of warrants (13,201) (13,201)   (13,201)                            
Common stock issued in debt extinguishment (shares)     1,390,500                              
Common stock issued in debt extinguishment 49,335 49,335 $ 14 49,321                            
Exercise of bond hedge (in shares)     (1,390,516)                              
Exercise of bond hedge 0   $ (14) 14                            
Transactions with non-controlling interests, net 31,551           31,551                      
Stock-based compensation expense and other (in shares)     13,764                              
Stock-based compensation expense and other $ 11,060 11,060   11,060                            
Balances (in shares) at Dec. 31, 2023 43,944,118   43,944,118                              
Balances at Dec. 31, 2023 $ 1,026,966 977,298 $ 439 474,134 881 501,844 49,668                      
Dividends on common stock (dollars per share) $ 0.52                                  
Net income $ 140,443 126,346       126,346 14,097                      
Other comprehensive income (loss) (1,463) (1,463)     (1,463)                          
RSUs vested (in shares)     398,510                              
RSUs vested $ 0 0 $ 4 (4)                            
Common stock purchased for employee tax withholding for vested RSUs (in shares) (152,042)   (676,842) [2]                              
Repurchases of common stock [2] $ (50,631) (50,631) $ (6) (50,120)   (505)                        
Dividends on common stock ($0.52 per share) (22,753) (22,753)   297   (23,050)                        
Capped call transactions (34,228) (34,228)   (34,228)                            
Redemption of warrants 466 466   466                            
Common stock issued in debt extinguishment (shares)     11,665                              
Exercise of bond hedge (in shares)     (260,883)                              
Exercise of bond hedge 0   $ (3) 3                            
Transactions with non-controlling interests, net 372           372                      
Stock-based compensation expense and other (in shares)     8,078                              
Stock-based compensation expense and other $ 20,191 20,191   20,191                            
Balances (in shares) at Dec. 31, 2024 43,424,646   43,424,646                              
Balances at Dec. 31, 2024 $ 1,079,363 $ 1,015,226 $ 434 $ 410,739 $ (582) $ 604,635 $ 64,137                      
Dividends on common stock (dollars per share) $ 0.52                                  
[1] During the years ended December 31, 2023 and 2022, there were 102,413 shares and 75,303 shares, respectively, withheld related to employee taxes for RSUs vested under our equity incentive plans. During the year ended December 31, 2022, we also repurchased 2,298,353 shares under the Board approved share repurchase program.
[2] During the year ended December 31, 2024, there were 152,042 shares withheld related to employee taxes for RSUs vested under our equity incentive plans and 524,800 shares repurchased under the Board approved share repurchase program.